ANAHEIM, CA - (January 17, 2012) - The City of Anaheim is pleased to announce its Enterprise Zone designation will be effective Feb. 1. The Enterprise Zone program, established by the State of California, serves to stimulate economic growth by providing tax credits for businesses located within the Enterprise Zone boundaries.

In Anaheim the Enterprise Zone boundaries include nearly all of the City’s industrial and commercial areas, and approximately 80% of all Anaheim businesses. The Enterprise Zone designation is for 15 years.

The Anaheim Enterprise Zone will provide benefits to businesses including the following –

• Firms can earn up to $37,440 in state tax credits for each qualified employee hired.
• Corporations can earn sales tax credits on purchases of up to $20 million per year of qualified machinery and machinery parts.
• Up-front expensing of certain depreciable property.
• Lenders to Zone businesses may receive a net interest deduction.
• Unused tax credits can be applied to future tax years, stretching out the benefit of the initial investment.
• Enterprise Zone companies can earn preference points on state contracts.
• Up to 100% Net Operating Loss (NOL) carry-forward. NOL may be carried forward 15 years.

The link to the Enterprise Zone boundary map can be located by clicking here.

For questions specific to the Anaheim Enterprise Zone please contact the program manager, John Ramirez, at 714-765-4949, or jramirez2@anaheim.net.

Media Contact: Ruth Ruiz 714.765.5060more city news

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ABOUT ANAHEIM – The City of Anaheim, founded in 1857, is one of the nation's premier municipalities and is one of California's most populous cities. Anaheim covers 50 square miles with more than 343,000 residents and more than 2,950 City employees. The municipal corporation's annual budget is $1.5 billion. Anaheim supports a thriving business community with companies such as Carl Karcher Enterprises, Inc., L-3 Communications, Pacific Sunwear, and Disneyland Resort. Successful sports franchises call Anaheim home, including Angels Baseball, Anaheim Ducks, the U.S. Men's National Volleyball Team, the 2012 Olympic Games Silver Medal winning U.S. Women's National Volleyball Team, and the Professional Arena Soccer League Anaheim Bolts. Anaheim also boasts world-class meeting and entertainment venues with the Anaheim Convention Center, LEED-certified and the largest on the west coast, Honda Center, City National Grove of Anaheim, Anaheim GardenWalk, and Angel Stadium of Anaheim. In addition, Anaheim embraces its vibrant cultural arts community, including the world-renowned Anaheim Ballet. Annually, Anaheim welcomes millions of visitors to the city, truly making it where the world comes to live, work and play. For more information, please visit www.anaheim.net.

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